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Washington, D.C., Dec 10, 2008 -

Congressman J. Randy Forbes (VA-04) released the following statement after voting against the Auto Industry Restructuring Act, H.R. 7321, today.

“Through bailout after bailout this year, we have seen that this model of ‘government rescue’ does not work. Despite five bailouts so far this year, we continue to face a weak economy that is causing families to struggle to pay their monthly bills, wonder if they can send their children to college, and worry about making ends meet with a shrinking retirement check. The auto bailout we voted on today, like all of the others, continues to ask those same taxpayers to pay for the mistakes and mismanagement of private companies, rather than providing real solutions to address our economic challenges.

“The auto bailout bill also creates a ‘car czar’ whose responsibility is to make the car companies profitable again. Our federal government was formed around the idea that individuals, no matter how good their intentions, are fallible. Centralizing this kind of power in one person, as was done with the Wall Street bailout, is one of the most dangerous trends we can begin as a nation and one that is fundamentally inconsistent with the intentions of our Founding Fathers. Americans deserve better than another bailout, and they should demand better from their government.”